{"id":1191563,"date":"2022-08-26T19:07:23","date_gmt":"2022-08-26T19:07:23","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/08\/26\/cedi-depreciation-those-who-convert-their-loots-into-forex-are-part-of-the-problem-israel-laryea\/"},"modified":"2022-08-26T19:07:23","modified_gmt":"2022-08-26T19:07:23","slug":"cedi-depreciation-those-who-convert-their-loots-into-forex-are-part-of-the-problem-israel-laryea","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/08\/26\/cedi-depreciation-those-who-convert-their-loots-into-forex-are-part-of-the-problem-israel-laryea\/","title":{"rendered":"Cedi Depreciation: Those Who Convert Their Loots Into Forex Are Part Of The Problem\u2013 Israel Laryea"},"content":{"rendered":"<p><\/p>\n<div>\n<article>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/08\/c4039e3bb324437b9892f0f486bd16af\" alt=\"Israel Laryea bio: age, wife, career, Instagram, pictures, life story\"\/><\/p>\n<p><span style=\"background-color: transparent;\">Ace Broadcast Journalist Israel Laryea has suggested another possible reason as to why the Ghanaian Cedi keeps depreciating against the major foreign trade currencies.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">According to Mr Laryea one of the factors affecting the strength of Ghana\u2019s currency is the penchant for people in high places to convert their ill-gotten money into forex and hoard the same from the system.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">\u201cIn discussing the Ghana Cedi\u2019s woes, we should also talk about people in high places who convert their loot of the public purse into forex and stash it in their homes and out of circulation. May those monies be \u201crelooted\u201d and returned into circulation\u201d, he said in a tweet.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">Currently the Ghana Cedi is trading at around GH\u20b510 to the United State Dollar and the Euro, respectively, and GH\u20b511 against the British Pounds.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">The Cedi has been classified by Bloomberg as the worst performing currency in the world at the moment.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">Bloomberg tracked the performance of 150 currencies in the world, placing the Cedi last in terms of performance since the beginning of the year.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">To arrest the situation, the Government has disclosed that it will be injecting some $2 Billion Dollars into the economy to shore up the rapid depreciation of the country\u2019s currency.<\/span><\/p>\n<p><span style=\"background-color: transparent;\">Speaking to Accra based Citi FM, the Information Minister, Kojo Oppong Nkrumah says some 750 million dollars expected from the Afremix Bank will hit the accounts of the Bank of Ghana this week, whilst the cocoa syndicated loan will add $1.3 billion.<\/span><\/p>\n<p>Content created and supplied by: OPolitics (via  Opera<br \/>\nNews )<\/p>\n<\/article>\n<p class=\"copyright hide\">\n<span class=\"content\">    ,  .   ,     .       () , , , , , , , , .      \/ ,  and\/or  .     ,  , and\/or  ,      and\/or     <\/span><br \/>\n<span class=\"see-more\"><\/span>\n<\/p>\n<section class=\"tags\">\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ace Broadcast Journalist Israel Laryea has suggested another possible reason as to why the Ghanaian Cedi keeps depreciating against the major foreign trade currencies. According to Mr Laryea one of the factors affecting the strength of Ghana\u2019s currency is the penchant for people in high places to convert their ill-gotten money into forex and hoard [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1191564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[672,12788,2129,6029,2734,6672,24485,385,1818],"class_list":["post-1191563","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-stories","tag-cedi","tag-convert","tag-depreciation","tag-forex","tag-israel","tag-laryea","tag-loots","tag-part","tag-problem"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1191563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1191563"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1191563\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1191563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1191563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1191563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}